The merger of the three platforms comes a decade after SEEK acquired Asia’s leading online employment marketplaces, Jobsdb and Jobstreet Powered by parent company SEEK’s world-class artificial intelligence (AI) technology, employers can now tap into an expanded talent pool, while talent can access more career opportunities across eight APAC markets[1]
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HONG KONG, Feb. 22, 2024 /PRNewswire/ — SEEK (ASX:SEK) has successfully merged its APAC employment marketplaces – SEEK, Jobsdb and Jobstreet – which will operate under a single system powered by SEEK’s world-class AI technology, while retaining their individual brands. This integration brings together millions of talent and employers across the APAC region to connect more of the right people with the right work.
Elliot Leung, Senior Product Manager of SEEK (left) and Bill Lee, Managing Director, Hong Kong, Jobsdb by SEEK (right)
SEEK’s unification of its employment marketplaces comes 10 years after it acquired Jobsdb and Jobstreet and follows three years of development and an estimated AUD$180 million (approximately HKD 900 million) investment.
"At SEEK, everything we do revolves around our customers. One unified platform means we can now offer our product to millions of people across APAC in an entirely new way, so that our customers can find jobs and talent more easily. This puts us in a stronger position, more than ever before, to realise our ambition of helping 500 million people develop their careers with five million companies in the region." says Peter Bithos, Chief Executive Officer, Asia, SEEK.
Providing access to more talent and jobs across APAC
With the successful completion of the integration, Hong Kong’s employers can benefit from greater access to a larger talent pool across the APAC region, including the Greater Bay Area (GBA). This development comes at a crucial time when Hong Kong’s enterprises are grappling with talent shortages and an increasing need to hire non-local professionals.
According to Jobsdb’s Hiring, Compensation, and Benefits Report 2024[2], Hong Kong enterprises have actively expressed their interest in seeking non-local talent. The report indicates that 63% of these enterprises are considering hiring Mainland professionals, while 60% are open to recruiting overseas talents.
Jobsdb’s latest annual employment platform data[3] also reveals a growing desire for cross-regional job opportunities among jobseekers. The data highlights a 37% increase in the number of overseas applicants with qualified working visas compared to pre-pandemic levels in 2018. This surge demonstrates heightened interest among foreign talents in working in Hong Kong. Simultaneously, local workers are also displaying a greater inclination towards overseas work opportunities, such as business travel and international exchanges. This is evident from the substantial 54% year-on-year increase in average job applications related to relevant keywords.
To address these evolving market dynamics, the unified platform now allows Hong Kong’s employers to tap into a wider talent pool of over 40 million people across eight APAC markets and enables local talent to access more job opportunities from over 2.5 million employers – including more remote working opportunities. This aligns with a survey finding which revealed that 68% of talent are willing to work remotely for an employer that lacks a physical presence in their country[4]. The features on the new platform are particularly helpful for those recruiting talent based in other markets.
"Based on Jobsdb Hong Kong’s latest employment platform data, we have observed a growing trend of cross-border talent mobility. The unification of SEEK, Jobsdb, Jobstreet, consolidates millions more of talent profiles and job opportunities across eight APAC markets, positioning the new platform strongly to address this trend. Furthermore, our strategic partnership with Zhaopin serving the GBA region brings additional value to our offerings. Through our significant investment in AI technology, the unified platform not only expands the talent pool and job access for employers and jobseekers in Hong Kong across the APAC region, but also facilitates better matches between candidates and employers, delivering valuable insights and enhanced value for the employment market. This significant move lays a solid foundation for our future growth." says Bill Lee, Managing Director, Hong Kong, Jobsdb by SEEK.
Delivering relevant matches and personalised experiences
The completion of platform integration brings forth new AI-powered advancements to Jobsdb and Jobstreet, aimed at enhancing the employment experience for both employers and jobseekers throughout the region.
For employers, the new platform deploys AI models to assess talent suitability and provide highly personalised recommendations by processing data from various sources, including resumes, job ad descriptions and the employer’s past behaviours. This allows employers to hire fast and right. Employers can also expedite the talent shortlist process by adding AI-recommended screening questions in their job ads.
To make the job-hunting process more efficient and relevant for talent, they can now effectively be matched to AI-recommended jobs they are most qualified for based on their experience and skills. Using AI, SEEK also evaluates when a person is likely a strong candidate for a role by showing a top applicant badge on the job vacancy page they are browsing, so talent can make more informed decisions whether to apply for a role.
To further enhance the job seeking experience, the new platform offers valuable insights and guidance. Through features like "Explore careers" and "Explore salaries", jobseekers gain access to data-backed career advice and salary information. This empowers individuals to make informed decisions about their professional paths and navigate wage discussions with confidence.
Following the unification program, SEEK can now harness a larger dataset across APAC, which will empower its AI algorithms to provide even more precise and relevant matches between employers and talent. Ultimately, this translates into an elevated user experience and expedites the hiring process on its Jobsdb and Jobstreet platforms.
For more information on the new features on Jobsdb and Jobstreet, please refer to Appendix A.
Enabling customer-centric innovation at pace
In moving to a unified marketplace platform, SEEK can now scale its use of data-driven insight, product testing and innovation at pace.
SEEK has introduced a new natural language search feature on its Jobstreet platform in the Philippines. This innovation allows talent to submit job queries using simple phrases or complete sentences on the platform, so they do not need to rely solely on keyword phrases (e.g. "Business analyst"). Powered by a large language model (LLM), the feature enables a search experience that is more organic and appealing to jobseekers. SEEK is going to roll it out across the rest of SEEK’s APAC markets in 2024.
SEEK has also made significant progress in launching seekMAX, an online learning platform designed to help individuals advance their careers. Currently available in Indonesia, the Philippines, Singapore and Malaysia, seekMAX has garnered positive feedback from users. SEEK has plans to extend the reach of seekMAX to the Hong Kong market, empowering even more individuals’ careers.
To experience the new Jobsdb by SEEK platform, visit jobsdb.com or download the app on Google Play Store or the App Store.
[1] The eight APAC markets include Australia, New Zealand, Philippines, Hong Kong SAR, Malaysia, Singapore, Thailand and Indonesia.
[2] Jobsdb launched the Hiring, Compensation, and Benefits Report 2024 in Nov 2023.
[3] Jobsdb released the latest annual employment platform data in Jan 2024.
[4] Conducted by Boston Consulting Group and the Network, Decoding the Digital Talent Challenge (fielded Oct – Nov 2020).
About SEEK in Asia
SEEK is a market leader in online employment marketplaces. It has a multinational presence spanning Australia, New Zealand, Hong Kong SAR, South East Asia, Brazil and Mexico. In Asia, SEEK operates the Jobsdb and Jobstreet brands, the region’s leading employment platforms and preferred destinations for candidates and hirers. In addition, SEEK has minority investments in China, South Korea and a number of other countries. SEEK is listed on the Australian Securities Exchange, where it is a top 100 company.
About Jobsdb by SEEK
Jobsdb is the leading employment platform in Hong Kong SAR and Thailand, helping people live more fulfilling and productive working lives and helping organisations succeed. It is a subsidiary of SEEK, a diverse group of companies comprised of a strong portfolio of online employment, educational, commercial and volunteer businesses. SEEK is listed on the Australian Securities Exchange and has a strong presence across the APAC region, including six Asian markets – Hong Kong SAR, Indonesia, Malaysia, the Philippines, Singapore, and Thailand – through the Jobsdb and Jobstreet brands. SEEK attracts over 500 million visits a year in Asia.
Appendix A: List of key changes
New Feature
Description
Benefit
Top applicant badge
Using AI, SEEK evaluates when a person is likely a strong candidate for a role.
Boosts candidate application rates and results in better matches as their experience and skills align with the job requirements. Also improves the relevance of job ad responses as employers get more qualified applications.
Profile visibility and approachability
Talent can choose if they want to be visible or approached by employers (Standard, Limited, Hidden visibility options available).
Talent can signal openness to job opportunities, simplifying proactive employer outreach.
About Your Next Role & "Right to Work"
Talent can indicate what they are looking for in their next role and indicate the right to work in the preferred locations.
Enables more relevant job recommendations, helping talent stand out to the right employers for better matches.
Multi-location posting
Employers can post job ads more than one location at a time across APAC.
Streamlines the job ad posting process, giving APAC employers access to a larger talent pool across SEEK, Jobsdb and Jobstreet. Talent also gains access to employers in eight markets.
Talent Search
Provides instant candidate recommendation (up to 100 profiles) with every job ad posted.
Facilitates quicker and more targeted hiring, allowing employers to reach out to suitable talent promptly and extend their reach beyond active jobseekers.
AI-recommended screening questions
Employers can add recommended AI-based screening questions to job posts.
Streamlines talent selection, enabling employers to shortlist talent faster by identifying the most suitable candidates based on their responses.
Real-time analytics
AI powered ad performance analytics provides insights on job ad performance, ad usage, market trends, and talent search usage.
Employers can make smarter hiring decisions with deep and actionable insights from SEEK Analytics.
Source : SEEK, Jobsdb and Jobstreet unify marketplace platforms, transforming APAC employment landscape
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